In previous Saturday issues of Dziennik Zwiazkowy, we have decribed a few Polish business enterprises in Chicago. We have not as yet brought in the Polish banks, for we desired first to acquaint our readers with less-known enterprises. Today we shall describe one of the best known Polish banks.

Who has never heard of the Northwestern Trust and Savings Bank, the largest Polish financial institution in Chicago? Who has not had occasion, at one time or another, to do business with this bank? It is famous not only in Chicago, but all over the country.

The Northwestern Trust and Savings Bank is located in the white building at the corner of Division Street and Milwaukee Avenue, in the very center of 2Polonia. Thousands of Poles have accounts with the bank; thousands of Poles deposit their savings there, confident that they will be given their money, with interest, wherever they ask for it.

Bank Teaches Poles Thrift

Every bank that gains the reputation of never having lost its depositor's money earns the confidence of its depositors. They do not withdraw their savings, but instead, save more and more, taking pride in the fact that their bank balance keeps growing from year to year. Such a bank teaches thrift.

The Northwestern Trust and Savings Bank has taught thousands of Poles to be thrifty, and has aided thousands in conducting their businesses. Those who have been saving a few dollars a month are well off today. They have been able to purchase real estate, they have gone into business, and they do not have to worry about poverty and bad times as do less thrifty people.

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The history of this Polish bank reaches back a few years. It was founded in 1908, when several energetic and enterprising Polish citizens, seeing that private non-Polish banks were fleecing the Polish people (often taking from them everything they had,) gathered together and, after talking the matter over, decided to found a Polish bank. It was a great and difficult task, but the sincere effort and perseverance of its founders overcame all obstacles. On October 28, 1908, the new institution was duly incorporated for two hundred thousand dollars. There were a hundred stockholders. From that time on the bank has existed without interruption.

For the first few years, the Northwestern Trust and Savings Bank was located at Milwaukee and Haddon Avenues, in the building which now houses the Polonia Clothing Company. Five years ago, it moved to the white building on the corner of Division Street and Milwaukee Avenue, a location which answers its purposes completely. The growth of the bank during the last few years has been little 4short of extraordinary.

Today, as we have already mentioned, the Northwestern Trust and Savings Bank is the largest Polish financial institution, not only in Chicago, but in the entire United States. Its capital is now a half million dollars, with a surplus of two hundred and fifty thousand, and undistributed profits of more than sixty thousand dollars. Its deposits total more than six and a half million dollars, while its entire assets total more than seven and a half million. The bank building and the lot upon which it stands have been assessed at a hundred and seventy-five thousand dollars. The bank has more than five thousand safety deposit boxes, all of which are rented at the time of writing. The rental rates for safety deposit boxes range from three to fifteen dollars per year.

The bank's books are conducted according to the very latest accounting system. It employs about sixty people, whose work is carefully supervised by the 5bank's officers.

According to information given our reporter by T. M. Helinski, cashier of the Northwestern Trust and Savings Bank, the bank is under state supervision and is a member of the Chicago Clearing House Association. The state examiners visit the bank twice a year, choosing a time most convenient for themselves. The officers of the bank never know in advance when the state examiners will come. Thus it is necessary for the bank's administration to be prepared at all times for inspection of their accounts. Customarily, the bank examiners first count the money in the bank's vaults and then check the records. In addition to this preceding, the officers of the bank are required to report upon the condition of the bank to the state controller five times a year. Small privately owned banks are not controlled in this way and, for that reason, depositors who place their money in such banks run a great risk of losing it.

Since the declaration of war against Germany by the United States, the 6Northwestern Trust and Savings Bank has been actively engaged in the sale of Liberty bonds. It sold more than three hundred thousand dollars worth of the first issue and will soon begin the sale of the second.

The present administration of the bank consists of the following: John F. Smulski, president; William Smith, Walter J. Raymer, and John A. Przybysz, vice presidents; T. H. Helinski, cashier; August J. Kowalski Jr., first assistant and Vincent Jozwin [Jozwiakowski] second assistant cashier; and M. Foerster, secretary. The board of directors consists of well-known Polish citizens of the Northwest part of the city.

The Northwestern Trust and Savings Bank has enjoyed the confidence of Poles and non-Poles alike. The great confidence of the Polish people in their bank is best shown by the fact that more than eighty per cent of its twenty-one thousand depositors are Poles from Chicago and neighboring towns.

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Today, there is absolutely no distrust of the Polish bank. Even "old country" people who formerly kept their money hidden in trunks, mattresses, quilts, and other odd places, are bringing their saving to the Northwestern Trust and Savings Bank, and they no longer need fear either fire or theft.